Risk preferences and purchase of energy-efficient technologies in the residential sector

By Y. Qiu, G. Colson, Carola Grebitus. 2014

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Internal and external barriers to energy efficiency: which role for policy interventions? (2019, background): “Therefore, more risk-averse agents are less willing to adopt energy-efficient appliances, retrofit their homes, or purchase hybrid automobiles (Erdem et al. 2010; Farsi 2010; Qiu et al. 2014; Fischbacher et al. 2015).”
A large-scale test of the effects of time discounting, risk aversion, loss aversion, and present bias on household adoption of energy-efficient technologies (2019, background): “, 2015) and also less likely to adopt various retrofit measures and appliances (excluding air conditioners; Qiu et al., 2014) or high-efficiency light bulbs and thermostats (but not appliances or vehicles) in the USA (Heutel, 2017).”
Making the implicit explicit: A look inside the implicit discount rate (2016, background): “The scant empirical literature on risk and EET adoption also suggests that more risk-averse households are less likely to adopt energy-efficient ventilation and insulation systems (Farsi, 2010) and light bulbs (Qiu et al., 2014).”